Battery-grade LCE firms at ¥159,000/t ($23,012), up 1.3% WoW. Downstream restocking supports prices.
LFP Power Grade rises to ¥56,800/t ($8,221), up 1.4% WoW as lithium costs flow through.
LiPF₆ stabilizes at ¥105,000/t ($15,197). Market searching equilibrium.
Mid-tier artificial anode holds at ¥27,500/t ($3,980). Producers capture margin from feedstock shifts.
Anode Materials
High-End Artificial
$7,743 USD/t
NCM Cathodes
5-Series (Single Crystal)
$26,472 USD/t
LFP Cathode
Power Grade
$8,221 USD/t
Lithium Carbonate
Battery Grade
$23,012 USD/t
LiOH
Battery Granular
$21,348 USD/t
LiPF₆
Average Market
$15,197 USD/t
LCO
4.35V Grade
$57,169 USD/t
LMO
Dynamical MnO₂
$8,756 USD/t
Artificial Graphite remains the dominant power baseline.
GPC and needle coke markets remain largely stable. Anode producers continue operating with measured inventory management.
Anode enterprises producing on strict "sales-based" model to avoid inventory bloat. Supply discipline keeping prices stable.
Transition to LWG furnaces (2,500-3,000 kWh/MT) from Acheson (4,000-4,800 kWh/MT) enables massive margin capture for advanced producers.
Cathode Dynamics:Cathode sector experiencing direct lithium cost pass-through. LFP rose 1.4% WoW. NCM 613 at $26,761 and NCM 5 at $26,472.
Direct lithium cost pass-through across chemistries.
Market Analysis: LCE extends gains to ¥159,000/t ($23,012), up 1.3% WoW. Restocking supports prices.
Consolidating around the $23.0k level.
LiOH trading at $1,664/t discount to LCE.
Stabilizing.
The LCE rally continues at a measured pace with downstream restocking providing sustained support.
LiPF₆ pricing remains under pressure but rate of decline moderating.
LiOH trades at $1,664/t discount to LCE, signaling oversupply in high-nickel chemistry.
Graphite anode enterprises continue "sales-based" production model. Despite feedstock cost movements, prices stable as manufacturers prioritize margin.
Risk Warning: The lithium uptrend continues to pressure downstream costs. Raw material spikes are being passed through to cell costs with increasing efficiency.
D3CT Recommendation: Procurement teams should evaluate strategic inventory positioning. Winners of 2026 will master the technical physics of their supply chain.
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